The European Commission said it raided firms managing power exchanges in several member states Tuesday on suspicion of possible cartel practices.
The European Commission said it raided firms managing power exchanges in
several member states Tuesday on suspicion of possible cartel practices.
"Commission officials undertook unannounced inspections at the premises of
companies active in managing power exchanges in several member states,"
earlier today, the statement said. "The Commission has concerns that the
companies concerned may have violated European antitrust rules that prohibit
cartels and restrictive business practices."
Power exchanges provide services that facilitate electricity trading at the
wholesale level.
Unannounced inspections are a preliminary step into suspected anticompetitive
practices. The fact that the commission carries out such inspections doesn't
mean that the companies are guilty of anti-competitive behavior nor does it
prejudge the outcome of the investigation itself. The commission respects the
rights of defense, in particular the right of companies to be heard in
antitrust proceedings.
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